Tata Motors, Hero MotoCorp and Tata Motors DVR were among top gainers on both the indices, while Lupin, Axis Bank and Hindalco lost the most
Market Live: Nifty slip into red ahead of F&O expiry; autos gain
Tata Motors, Hero MotoCorp and Tata Motors DVR were among top gainers on both the indices, while Lupin, Axis Bank and Hindalco lost the most
HUDCO IPO: State-run Housing and Urban Development Corporation (HUDCO) has decided to launch its initial public offering on May 8 and set a price band at Rs 56-60 per share.
The IPO comprised sale of 20 crore equity shares (10 percent paid-up capital) by the central government through an offer for sale (OFS).
The issue will close on May 11 and anchor investors' portion will open for subscription on May 5.
The company aims to raise Rs 1,121 crore at lower end of price band and Rs 1,201.1 crore at higher end of price band.
The object of the offer is to carry out the disinvestment of 2 crore equity shares by the central government. Hence, the company will not receive any proceeds from the offer.
10:43 am SEBI on commodity trading: SEBI permitted options trading in commodity derivatives to enhance liquidity even as the regulator indicated that it might take longer before deciding on allowing institutional investors into commodities segment.
Describing the decision on options trading as a "very big step towards further deepening the commodities derivatives market", Sebi Chairman Ajay Tyagi said it would be implemented quickly.
These decisions were taken at the Sebi's board meeting, first one to be chaired by Tyagi, here.
10:25 am Aadhaar-PAN update: The government on Wednesday clarified to the Supreme Court that the permanent account number (PAN) will not be invalidated retrospectively if it isn’t linked with the Aadhaar.
PAN will be invalidated from July 1, 2017 and not from when one had applied for it, Mukul Rohatgi, government’s top law officer attorney said, according to a report in the Livemint.
Earlier this month, the government had made Aadhaar number compulsory for filing income tax returns and also to apply for a new PAN.
According to the new Finance Act, 2017, the PAN number can be considered void if it is not linked with the Aadhaar.
10:10 am Market Check: Benchmark indices slipped in the red, as a result of implied volatility due to F&O expiry of March derivative contracts.
The Sensex was down 49.23 points at 30084.12, while the Nifty was down 11.95 points at 9339.90. The market breadth was negative as 1,010 shares advanced against a decline of 1,030 shares, while 98 shares were unchanged.
Auto stocks Tata Motors, Hero MotoCorp, and Tata Motors DVR were among the top gainers, while Lupin, Axis Bank and Hindalco lost the most.
Shares of Adani Enterprises witnessed 13 percent surge after it was out of the F&O ban.
9:45 am IPO: The initial public offer of text book publisher S Chand and Company was subscribed 52 percent on the first day of bidding Wednesday.
The IPO received bids for 39,80,174 shares against the total issue size of 76,85,284 shares, as per NSE data.
The portion set aside for qualified institutional buyers (QIBs) was subscribed 60 percent and non institutional investors, 23 percent. The retail investor category was also subscribed 60 percent.
S Chand had raised nearly Rs 219 crore from anchor investors on Tuesday. The price band for the offer is Rs 660-670 a share.
9:30 am FII View: Laurence Balanco of CLSA says the Nifty continued to work its way higher following the breakout to new all-time highs with the move above 8,989-9,191 resistance.
"On the upside, we are focused on the following targets - 10,350 and 11,547 and finally 12,000 which is a measured move target after breakout from the March 2015 to-date consolidation," he says.
There are similarities between March 2015-to-current consolidation pattern and the one between November 2010 & November 2013 before the prior breakout to new all-time high, he feels.
9:15 am Market Check: Equity benchmarks opened Thursday's trade on a flat note after yesterday's record closing high and ahead of expiry of April futures & options contracts.
The 30-share BSE Sensex was up 42.84 points at 30,176.19 and the 50-share NSE Nifty gained 7.60 points at 9,359.45.
Lupin fell nearly 2 percent in opening on USFDA observations for Goa plnat but recovered immediately.
Adani Ports rebounded 1.5 percent after losing 2 percent in previous session. Tata Motors gained momentum further, up over a percent ahead of April sales data due next week.
Kotak Mahindra Bank gained over a percent ahead of earnings later today. HUL, M&M, Hero Motocorp and GAIL were other gainers while Axis Bank, HDFC, ICICI Bank, Bharti Airtel, BPCL, Hindalco and Bharti Infratel fell on profit booking.
The Indian rupee extended gains further as it has opened at 64.05 per dollar today, higher by 7 paise over 64.12 a dollar in previous session.
Mohan Shenoi of Kotak Mahindra Bank said global equity markets were continuing to rally reflecting risk-on sentiment and Asian currencies were also rallying on the back of the equity market rally.
The rupee is gaining with strong custodial flows. So he expects the USD-INR pair to trade in a range of 63.90-64.20/dollar for the day.
10:43 am SEBI on commodity trading: SEBI permitted options trading in commodity derivatives to enhance liquidity even as the regulator indicated that it might take longer before deciding on allowing institutional investors into commodities segment.
Describing the decision on options trading as a "very big step towards further deepening the commodities derivatives market", Sebi Chairman Ajay Tyagi said it would be implemented quickly.
These decisions were taken at the Sebi's board meeting, first one to be chaired by Tyagi, here.
10:25 am Aadhaar-PAN update: The government on Wednesday clarified to the Supreme Court that the permanent account number (PAN) will not be invalidated retrospectively if it isn’t linked with the Aadhaar.
PAN will be invalidated from July 1, 2017 and not from when one had applied for it, Mukul Rohatgi, government’s top law officer attorney said, according to a report in the Livemint.
Earlier this month, the government had made Aadhaar number compulsory for filing income tax returns and also to apply for a new PAN.
According to the new Finance Act, 2017, the PAN number can be considered void if it is not linked with the Aadhaar.
10:10 am Market Check: Benchmark indices slipped in the red, as a result of implied volatility due to F&O expiry of March derivative contracts.
The Sensex was down 49.23 points at 30084.12, while the Nifty was down 11.95 points at 9339.90. The market breadth was negative as 1,010 shares advanced against a decline of 1,030 shares, while 98 shares were unchanged.
Auto stocks Tata Motors, Hero MotoCorp, and Tata Motors DVR were among the top gainers, while Lupin, Axis Bank and Hindalco lost the most.
Shares of Adani Enterprises witnessed 13 percent surge after it was out of the F&O ban.
9:45 am IPO: The initial public offer of text book publisher S Chand and Company was subscribed 52 percent on the first day of bidding Wednesday.
The IPO received bids for 39,80,174 shares against the total issue size of 76,85,284 shares, as per NSE data.
The portion set aside for qualified institutional buyers (QIBs) was subscribed 60 percent and non institutional investors, 23 percent. The retail investor category was also subscribed 60 percent.
S Chand had raised nearly Rs 219 crore from anchor investors on Tuesday. The price band for the offer is Rs 660-670 a share.
9:30 am FII View: Laurence Balanco of CLSA says the Nifty continued to work its way higher following the breakout to new all-time highs with the move above 8,989-9,191 resistance.
"On the upside, we are focused on the following targets - 10,350 and 11,547 and finally 12,000 which is a measured move target after breakout from the March 2015 to-date consolidation," he says.
There are similarities between March 2015-to-current consolidation pattern and the one between November 2010 & November 2013 before the prior breakout to new all-time high, he feels.
9:15 am Market Check: Equity benchmarks opened Thursday's trade on a flat note after yesterday's record closing high and ahead of expiry of April futures & options contracts.
The 30-share BSE Sensex was up 42.84 points at 30,176.19 and the 50-share NSE Nifty gained 7.60 points at 9,359.45.
Lupin fell nearly 2 percent in opening on USFDA observations for Goa plnat but recovered immediately.
Adani Ports rebounded 1.5 percent after losing 2 percent in previous session. Tata Motors gained momentum further, up over a percent ahead of April sales data due next week.
Kotak Mahindra Bank gained over a percent ahead of earnings later today. HUL, M&M, Hero Motocorp and GAIL were other gainers while Axis Bank, HDFC, ICICI Bank, Bharti Airtel, BPCL, Hindalco and Bharti Infratel fell on profit booking.
The Indian rupee extended gains further as it has opened at 64.05 per dollar today, higher by 7 paise over 64.12 a dollar in previous session.
Mohan Shenoi of Kotak Mahindra Bank said global equity markets were continuing to rally reflecting risk-on sentiment and Asian currencies were also rallying on the back of the equity market rally.
The rupee is gaining with strong custodial flows. So he expects the USD-INR pair to trade in a range of 63.90-64.20/dollar for the day.
Markets in Asia were mostly lower following the lower close on Wall Street as investors parsed details on US President Donald Trump's highly-anticipated tax reform plans.
We are SEBI Registered Investment Adviser in India
we Provides different services for share market trading. For More
Information about our services and tips like Commodity Trading Tips,
Nifty tips, Equity Tips Free Trial and Forex Tips Call Us @ +91-7400574001. Or simply Fill Free Trial Form attached in this Blog(Right Side).
No comments:
Post a Comment